National Bank Financial Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Key Points

• National Bank Financial raised Loblaw Companies’ price target from C$70 to C$72 and maintained an “outperform” rating, implying 5.4% upside from the previous close.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$71.67; targets from other firms range as high as C$75.
• Loblaw shares fell 1.1% to C$68.31, while the company reported C$0.66 quarterly EPS on C$15.05 billion in revenue. Insiders sold 324,121 shares worth approximately C$20.1 million during the last quarter.

Loblaw Companies (TSE:L - Get Free Report) had its price target raised by analysts at National Bank Financial from C$70.00 to C$72.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price target indicates a potential upside of 5.40% from the stock's previous close.

L has been the subject of several other reports. Desjardins increased their price objective on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. TD Securities upgraded Loblaw Companies to a "strong-buy" rating in a research report on Wednesday, July 29th. BMO Capital Markets lifted their target price on Loblaw Companies from C$70.00 to C$73.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Scotia upped their price target on Loblaw Companies from C$64.00 to C$67.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Finally, TD set a C$75.00 price target on Loblaw Companies and gave the stock a "buy" rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$71.67.

Loblaw Companies Trading Down 1.1%

TSE:L traded down C$0.78 on Wednesday, hitting C$68.31. The stock had a trading volume of 492,203 shares, compared to its average volume of 1,328,347. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 151.15. The stock has a market cap of C$78.94 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 3.23 and a beta of 0.02. The company has a fifty day moving average price of C$62.68 and a two-hundred day moving average price of C$63.10. Loblaw Companies has a 1-year low of C$54.44 and a 1-year high of C$70.23.

Loblaw Companies (TSE:L - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. The business had revenue of C$15.05 billion during the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. Equities research analysts expect that Loblaw Companies will post 9.12 earnings per share for the current fiscal year.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, insider Mark William Henry Wilson sold 24,496 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of C$62.68, for a total transaction of C$1,535,409.28. Also, insider David Markwell sold 56,240 shares of the company's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of C$62.07, for a total value of C$3,490,816.80. In the last quarter, insiders sold 324,121 shares of company stock worth $20,118,530. Insiders own 53.77% of the company's stock.

About Loblaw Companies

Loblaw is Canada's food and pharmacy leader, and the nation's largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada's largest private sector employers. Loblaw's purpose - Live Life Well® - puts first the needs and well-being of Canadians who make one billion transactions annually in the company's stores.

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